Cactus (WHD) PT Raised to $36.00

Cactus (NYSE:WHD) had its price target upped by Barclays from $31.00 to $36.00 in a research note issued to investors on Tuesday, MarketBeat reports. Barclays currently has an overweight rating on the stock.

Several other equities research analysts have also recently issued reports on the company. ValuEngine raised Cactus from a hold rating to a buy rating in a research note on Wednesday, April 11th. Royal Bank of Canada assumed coverage on Cactus in a research note on Friday, April 6th. They set an outperform rating and a $32.00 target price for the company. Citigroup assumed coverage on Cactus in a research note on Tuesday, March 6th. They set a buy rating for the company. Scotia Howard Weill assumed coverage on Cactus in a research note on Monday, March 5th. They set a sector outperform rating for the company. Finally, Howard Weil assumed coverage on Cactus in a research note on Monday, March 5th. They set a sector outperform rating for the company. Ten analysts have rated the stock with a buy rating, The company has a consensus rating of Buy and an average price target of $32.20.

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WHD stock opened at $35.89 on Tuesday. The company has a quick ratio of 1.88, a current ratio of 2.86 and a debt-to-equity ratio of 0.04. The firm has a market cap of $2.58 billion and a price-to-earnings ratio of 0.03. Cactus has a 52-week low of $19.18 and a 52-week high of $36.39.

Cactus (NYSE:WHD) last posted its earnings results on Wednesday, May 9th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.02. The business had revenue of $115.11 million for the quarter, compared to analyst estimates of $110.14 million. equities research analysts anticipate that Cactus will post 1.53 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Legal & General Group Plc purchased a new position in shares of Cactus during the first quarter worth $111,000. Royal Bank of Canada purchased a new position in shares of Cactus during the first quarter worth $115,000. BNP Paribas Arbitrage SA purchased a new position in shares of Cactus during the first quarter worth $127,000. Sei Investments Co. purchased a new position in shares of Cactus during the first quarter worth $207,000. Finally, New York State Common Retirement Fund purchased a new position in shares of Cactus during the first quarter worth $250,000. Institutional investors and hedge funds own 4.72% of the company’s stock.

About Cactus

Cactus, Inc designs, manufactures, sells, and rents a range of wellheads and pressure control equipment. The company's principal products include Cactus SafeDrill wellhead systems, frac stacks, zipper manifolds, and production trees. It also provides field services, such as 24-hour service crews to assist with the installation, maintenance, and safe handling of the wellhead and pressure control equipment, as well as repair services for equipment that it sells or rents.

Analyst Recommendations for Cactus (NYSE:WHD)